When I was a child of four or five, I learned the real value of my two cents worth. The fires were out at the farmhouse and between my Uncle (a year older than me) my Grandmother Murphy, and my Great- grandmother Geist it was I who was given two cents to walk the mile and a half to the country store and buy the penny box of matches that would ignite the fire in the stove to cook the evening meal and as a reward for treading the Macadam road, I was allowed the other penny to buy a bag of hard candy. I remembered the reward but forgot the main task and so spent both pennies on a bigger bag of candy. It was only a God wink that saved my britches from a tannin for a relative has stopped by with matches and a fine supper was ready and enjoyed by all who laughed at my forgetfulness.
I learned common sense economics, that is, money is no more and no less than an exchange for goods, services, or other forms of exchange media that may at the time of exchange be worth more, the same, or less than that for which it is exchanged. I had given up two cents and received a large bag of candy with no deserved punishment, indeed a great bargain at the time.
Fast forward eighty-five years. At KILWANS PREMIUM CHOCLATES, I received a small bag of chocolate malt balls in exchange for $8.50. The quality was good, but my memories shouted that price had really changed. A nickel candy bar of my memory now cost $1.50 but I did not get thirty times the enjoyment but rather felt the sticker shock of the cause of increase. Tawas simple INFLATION. The fact is that with high demand for fewer goods and services the cost of exchange media increases and that with less demand for abundant goods and services, the cost of exchange media decreases. Over time it makes sense that high demand has caused the increase of cost. It is as certain that money (exchange media) provided by borrowing (increasing national debt of which I must pay my fair share) and given to various segments of society, ($25,000 to buy a house, $50,000 to open a small business, student loan forgiveness) in an effort to win the political favor of the rewarded (of which in retirement I have no part) leaves me with two punishments for the same act. I must bear my share of the debt created and because extra money pumped into the economy without corresponding production of goods or services, more money chases the same goods and prices of goods rises, and secondly, I must pay the higher price or abandon the purchase.
Take it for what it is worth, 3%, 4% or 5% a month increase in prices due to inflation is cumulative and the result is 18%, 19% or the 19.7% increase in cost of goods and services the average worker must pay without a corresponding increase in wages. Ordinary citizens should be outraged at the government dipping into their pockets, the pockets of their children and grandchildren to pay for the unconscionable debt at the level of $35,000,000,000,000 with continued spending at the rate of $1,000,000,000,000 every one hundred days (some Covid money allocated but as yet unspent), and to add insult to injury, current interest rates apply to the debt to the extent that such interest payment now exceeds the budget of national defense and more. Should one earn $200,000 a year and devote it all to paying such a sum it would take five million years to do so. A billionaire being generous and giving it all to national debt would need 35 thousand fellow billionaires (if there ever will be that many) to wipe out the debt, sorry Kamala but there are not that many and too high a tax rate causes folks to throw up their hands and say it is not worth the effort to be successful and be taxed so much. From each according to ability, to each according to need is not the phrase that build the American Dream.
Arise all Americans. Awaken the House and the Senate. Vote for a balanced budget with built in debt reduction; for failure to do so will, if uncorrected, lead to the collapse of the current economy and the dollar as a standard for the world.
We at ivotemyvote.com invite commentary of opposing views that are cogent and contribute to the understanding of various viewpoints on every issue. Attribute all inconsistencies above to the advanced age of your humble founder. CGT
